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AmResearch raises Dialog’s FY16 earnings by 10%

KUALA LUMPUR (June 27): AmResearch has foreast a 10% increase in Dialog Group Bhd’s FY16 earnings after incorporating additional engineering works arising from the expansion of the Pengerang Independent Terminal (PIT) development, analyst Alex Goh said in a note today.

Dialog expects to complete PIT Phase 1’s storage facility by the end of the year.

It currently owns a 46% effective stake in PIT Phase 1 with Vopak (44%) and the Johor State (10%).

“We understand that negotiations are currently being held with other stakeholders for PIT Phase 2 and 3,” Goh said.

Goh maintains a “hold” call on Dialog but has revised its target price to RM 4.05 per share from RM 3.40 per share.